Trading on the Jamaica Stock Exchange US dollar market ended on Tuesday, with the volume of stocks changing hands jumping 293 percent, with a 185 percent greater value than on Monday, resulting in nine securities being traded, compared to seven on Monday, with one rising, two declining and six ending unchanged.
Overall, 610,587 shares were traded for US$16,053 compared with 155,440 units at US$5,637 on Monday.
Trading averaged 67,843 units at US$1,784 versus 22,206 shares at US$805 on Monday, with a month to date average of 46,739 units at US$2,543 compared with 43,771 units at US$2,650 on the previous day. July ended with an average of 95,306 units for US$2,965.
The US Denominated Equities Index fell 4.12 points to 240.44.
The PE Ratio, a measure used in computing appropriate stock values, averages 8.8. The PE ratio is calculated based on the last traded price divided by projected earnings done by ICInsider.com for companies with their financial year ending between November 2023 and August 2024.
Investor’s Choice bid-offer indicator shows two stocks ending with bids higher than their last selling prices and none with a lower offer.
At the close, First Rock Real Estate USD share remained at 4 US cents, with 545 shares crossing the market, 
Productive Business Solutions ended at US$1.80 after traders exchanged 6 units, Proven Investments ended at 14.8 US cents, with 1,076 stocks changing hands, Sterling Investments lost 0.18 of a cent in closing at 1.8 US cents as investors exchanged 109 stock units. Sygnus Credit Investments shed 1.5 cents in closing at 8 US cents with shareholders swapping 61,993 shares, Sygnus Real Estate Finance USD share ended at 10 US cents after switching ownership of 10 units and Transjamaican Highway gained 0.09 of a cent to close at 1.69 US cents in an exchange of 546,676 stocks.
In the preference segment, JMMB Group 5.75% closed at US$1.95 with an exchange of 52 stock units and Productive Business Solutions 9.25% preference share ended at US$12.50 while exchanging 120 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Slippage for JSE USD Market
JSE USD Market pops on Monday
Trading on the Jamaica Stock Exchange US dollar market ended on Monday, with the volume of stocks changing hands rising 31 percent, valued 68 percent lower than on Friday, resulting in seven securities traded, compared to six on Friday, with three rising, two declining and two ending unchanged.
A total of 155,440 shares were traded for US$5,637 compared with 118,609 units at US$17,580 on Friday.
Trading ended with an average of 22,206 shares at US$805 compared to 19,768 shares at US$2,930 on Friday, with a month to date average of 43,771 shares at US$2,650 compared with 46,419 units at US$2,877 on the previous trading day. July ended with an average of 95,306 units for US$2,965.
The US Denominated Equities Index popped 2.16 points to close at 244.56.
The PE Ratio, a measure used in computing appropriate stock values, averages nine. The PE ratio is calculated based on the last traded price divided by projected earnings done by ICInsider.com for companies with their financial year ending between November 2023 and August 2024.
Investor’s Choice bid-offer indicator shows one stock ended with a bid higher than the last selling price and one with a lower offer.
At the close, First Rock Real Estate USD share remained at 4 US cents and closed with 509 shares being traded, Margaritaville popped 0.1 of a cent to end at 11 US cents in trading 2,130 units, 
Proven Investments rose 0.3 of a cent and ended at 14.8 US cents, with 251 stocks crossing the market. Sterling Investments popped 0.02 of a cent to 1.98 US cents with investors trading six stocks, Sygnus Credit Investments dropped 1.41 cents to close at 9.5 US cents with 32,422 stock units clearing the market and Transjamaican Highway dipped 0.05 cents and ended at 1.6 US cents in an exchange of 120,000 units.
In the preference segment, JMMB Group 5.75% ended at US$1.95 as investors exchanged 122 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Declining stocks top ICTOP10
Only one ICTOP10 Junior Market stock rose at the end of the past week while six declined, with the Main Market fearing a bit better, with six declining and three rising as the week closed with no new additions to the TOP10 lists.
The Junior Market’s Caribbean Assurance Brokers rose 13 percent to $2.95 while Iron Rock Insurance dropped 13 percent to $2.10, followed by a 12 percent decline for Everything Fresh to close at $1.34, Edufocal lost 10 percent to $1.49 and OneonOne, Dolphin Cove and Image Plus all lost 4 percent.
The Main Market had a 15 percent rise in Key Insurance to $2.88, followed by a 9 percent increase in 138 Student Living to $4.65. Jamaica Broilers fell 9 percent to $31.99, Caribbean Cement lost 6 percent to end at $51.75, followed by a 5 percent fall in Guardian Holdings and Margarittaville down 4 percent to 10.9 US cents.
Key Insurance was three of the TOP10 companies to release results in the week. The half year results ended with revenues up 23 percent to $1.3 billion and profits of $14 million and $9 million for the June quarter, both were helped by Investment income that jumped $118 million from $47 million in the six months and $62 million versus $29 million in the June quarters.
Everything Fresh reported a 14.4 percent increase in revenues to $827 million for the June quarter and a 32 percent jump for the half year to $1.67 billion and a profit of $43 million for the second quarter compared with $30 million in 2022 for the June quarter, and $78 million r the half year versus $38 million in 2022.
Edufocal reported a 36 percent jump in revenues to $98 million in the June quarter and a 59 percent jump for the half year to $211 million, delivering a profit of $23 million for the second quarter compared with $10 million for the June 2022 quarter and $66 million for the half year versus $12 million in 2022.
At the end of the week, the average PE for the JSE Main Market TOP 10 is 5.3, well below the market average of 13.1. The Main Market TOP10 is projected to have an average of 317 percent, to May 2024, based on 2023 forecasted earnings.
The 14 most highly valued Main Market stocks representing 30 percent of the Main Market are priced at a PE of 15 to 95, with an average of 30 and 20 excluding the highest PE ratios, with a PE of 23 for the top half and 18 excluding the stocks with the highest PEs.
The Junior Market Top 10 PE sits at 5.3 compared with the market at 10.6. There are 11 stocks representing 23 percent of the market, with PEs from 15 to 34, averaging 19, which is well above the market’s average. The top half of the market has an average PE of 15, possibly the lowest fair value for Junior Market stocks currently, and is projected to rise by 278 percent to May 2024.
The divergence between the average PE ratio of the Main and Junior Markets and the overall market valuation are important indicators of the level of likely gains for ICTOP10 stocks.
ICTOP10 focuses on likely yearly winners, accordingly, the list includes some of the best companies in the market, but not always. ICInsider.com ranks stocks based on projected earnings, allowing investors to focus on the most undervalued stocks and helping to remove emotions in selecting stocks for investments that often result in costly mistakes.
IC TOP10 stocks will likely deliver the best returns up to the end of May 2024 and are ranked in order of potential gains, computed using projected earnings for the current fiscal year. Expected values will change as stock prices fluctuate, resulting in weekly movements in and out of the lists. Revisions to earnings are ongoing, based on receipt of new information.
Persons who compiled this report may have an interest in securities commented on in this report.
Trading drops on JSE USD Market
Trading on the Jamaica Stock Exchange US dollar market ended on Friday with an 89 percent decline in the volume of stocks changing hands, valued 51 percent lower than on Thursday and resulting in six securities being traded, as was the case on Thursday and ended with two rising, one falling and three ending unchanged.
A total of 118,609 shares were traded for US$17,580 compared with 1,054,854 units at US$35,623 on Thursday.
Trading averaged 19,768 units at US$2,930 compared with 175,809 shares at US$5,937 on Thursday, with a month to date average of 46,419 shares at US$2,877 compared to 49,555 units at US$2,870 on the previous day. July ended with an average of 95,306 units for US$2,965.
The US Denominated Equities Index added 0.14 points to finish at 242.40.
The PE Ratio, a measure used in computing appropriate stock values, averages 9.1. The PE ratio is calculated based on the last traded price divided by projected earnings done by ICInsider.com for companies with their financial year ending between November 2023 and August 2024.
Investor’s Choice bid-offer indicator shows two stocks ended with bids higher than their last selling prices and none with a lower offer.
At the close, Productive Business Solutions ended at US$1.80 after an exchange of 4 shares, Proven Investments fell 0.3 of a cent to close at 14.5 US cents after 52,992 stock units passed through the market, 
Sygnus Real Estate Finance USD share remained at 10 US cents closed with an exchange of 1,400 units and Transjamaican Highway popped 0.05 of a cent in closing at 1.65 US cents with investors exchanging 62,160 stocks.
In the preference segment, JMMB Group 5.75% remained at US$1.95, with investors transferring 1,600 shares and Productive Business Solutions 9.25% preference share rose 50 cents and ended at US$12.50 after a transfer of 453 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trading picks up on JSE USD Market
Trading on the Jamaica Stock Exchange US dollar market ended on Thursday, with the volume of stocks changing hands rising 360 percent with a value that is 74 percent more than on Wednesday and resulting in the trading of six securities, compared to eight on Wednesday, with three rising, one declining and two ending unchanged.
A total of 1,054,854 shares were traded for US$35,623 compared with 229,429 units at US$20,421 on Wednesday.
Trading Thursday averaged 175,809 shares at US$5,937 compared with 28,679 units at US$2,553 on Wednesday, with a month to date average of 49,555 shares at US$2,870 compared to 32,721 units at US$2,461 on the previous day. July ended with an average of 95,306 units for US$2,965.
The US Denominated Equities Index slipped 0.47 points to finish at 242.27.
The PE Ratio, a measure used in computing appropriate stock values, averages 9.1. The PE ratio is computed based on the last traded price divided by projected earnings done by ICInsider.com for companies with their financial year ending between November 2023 and August 2024.
Investor’s Choice bid-offer indicator shows three stocks ended with bids higher than their last selling prices and one with a lower offer.
At the close, Productive Business Solutions ended at US$1.80 with a transfer of 100 shares, Proven Investments remained at 14.8 US cents with an exchange of 58,000 units, 
Sygnus Credit Investments rallied 0.02 of a cent to end at 10.91 US cents as investors exchanged 4,838 stock units and Transjamaican Highway dipped 0.05 cents to 1.6 US cents after 986,787 stocks passed through the exchange.
In the preference segment, JMMB Group 5.75% advanced 5 cents to end at US$1.95, with stakeholders exchanging 5,079 units and Productive Business Solutions 9.25% preference share gained 30 cents and ended at US$12, with 50 stock units changing hands.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trading picks up for JSE USD Market
Trading on the Jamaica Stock Exchange US dollar market ended on Wednesday, with the volume of stocks changing hands rising 189 percent, valued 1,194 percent more than in trading on Tuesday and resulted in trading in eight securities, compared to 10 on Tuesday, with four rising, two declining and two ending unchanged.
Overall, 229,429 shares were traded for US$20,421 compared with 79,376 units at US$1,578 on Tuesday.
Trading averaged 28,679 units at US$2,553 versus 7,938 shares at US$158 on Tuesday, with a month to date average of 2,721 units at US$2,461 compared with 33,595 stock units at US$2,442 on the previous day. July ended with an average of 95,306 units for US$2,965.
The US Denominated Equities Index added 1.04 points to close trading at 242.73.
The PE Ratio, a measure used in computing appropriate stock values, averages 9.1. The PE ratio is calculated based on the last traded price divided by projected earnings done by ICInsider.com for companies with their financial year ending between November 2023 and August 2024.
Investor’s Choice bid-offer indicator shows five stocks ended with bids higher than their last selling prices and none with a lower offer.
At the close, First Rock Real Estate USD share ended at 4 US cents after a transfer of 2,868 shares, 
Margaritaville dipped 0.44 of a cent to close at 10.9 US cents, with 1,005 stock units crossing the market, MPC Caribbean Clean Energy added 0.1 of a cent to end at 62.8 US cents in an exchange of one unit, Proven Investments advanced 0.3 of a cent to 14.8 US cents with 128,254 stocks clearing the market. Sterling Investments popped 0.21 of a cent in closing at 1.96 US cents while exchanging 7,024 shares, Sygnus Credit Investments remained at 10.89 US cents with shareholders swapping 1,005 units and Transjamaican Highway increased 0.05 of a cent to end at 1.65 US cents after closing with an exchange of 89,229 stock units.
In the preference segment, JMMB Group 5.75% dipped 10 cents in closing at US$1.90 after 43 stocks crossed the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trading plunges on JSE USD Market
Trading on the Jamaica Stock Exchange US dollar market ended on Tuesday, with an 89 percent fall in the volume of stocks changing hands, with a 93 percent lower value than Friday and resulting in 10 securities being traded, compared to nine on Friday, with three rising, two declining and five ending unchanged.
Overall, 79,376 shares were traded for US$1,578 compared with 745,414 units at US$22,909 on Friday.
Trading averaged 7,938 units at US$158 compared with 82,824 shares at US$2,545 on Friday, with a month to date average of 33,595 shares at US$2,442 compared with 43,097 units at US$3,288 on the previous trading day. July ended with an average of 95,306 units for US$2,965.
The US Denominated Equities Index rallied 1.07 points to end at 241.69.
The PE Ratio, a measure used in computing appropriate stock values, averages 9. The PE ratio is computed based on the last traded price divided by projected earnings done by ICInsider.com for companies with their financial year ending between November 2023 and August 2024.
Investor’s Choice bid-offer indicator shows one stock ending with a bid higher than the last selling price and one with a lower offer.
At the close, First Rock Real Estate USD share remained at 4 US cents after a transfer of 267 shares, Margaritaville dropped 0.01 of a cent to end at 11.34 US cents with a transfer of 95 units, Productive Business Solutions ended at US$1.80 and closed with six stock units being exchanged. 
Proven Investments remained at 14.5 US cents with shareholders swapping 1,276 stocks, Sterling Investments climbed 0.15 of a cent in closing at 1.75 US cents, with 2,000 stocks crossing the market, Sygnus Credit Investments popped 1.89 cents to 10.89 US cents with investors trading 26 stock units. Sygnus Real Estate Finance USD share ended at 10 US cents, with 11 shares changing hands and Transjamaican Highway fell 0.01 of a cent to close at 1.6 US cents after 75,641 units crossed the market.
In the preference segment, JMMB Group 5.75% ended at US$2 as investors exchanged 49 shares and JMMB Group 6% rose 3 cents to end at US$1.08 in an exchange of 5 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Margaritaville tops ICTOP10
Margaritaville was the top performing ICTOP10 stock after jumping 30 percent during the week to close at 11.35 US cents in the first week on the TOP10. That was the only notable gainer in the Main Market list, although JMMB Group added 5 percent to close at $28.55.
Margaritaville, located in the Turks & Caicos Islands
The Junior Market’s Iron Rock Insurance jumped 15 percent to $2.41, followed by a 12 percent rise in the price of Everything Fresh to $1.53, with General Accident adding just 4 per cent to close at $4.90.
The Main Market had a 14 percent fall in Key Insurance to $2.51, followed by 8 percent in 138 Student Living, ending at $4.28. The Junior Market’s Caribbean Assurance Brokers fell 13 percent to $2.60 and Edufocal was down 8 percent to $1.66. The week closed with no new additions to the ICTOP10.
At the end of the week, the average PE for the JSE Main Market TOP 10 is 5.3, well below the market average of 13.1. The Main Market TOP10 is projected to have an average of 326 percent, to May 2024, based on 2023 forecasted earnings.
The 14 most highly valued Main Market stocks representing 30 percent of the Main Market are priced at a PE of 15 to 108, with an average of 30 and 20 excluding the highest PE ratios, with a PE of 23 for the top half and 18 excluding the stocks with the highest PEs.
The Junior Market Top 10 PE sits at 5.8 compared with the market at 10.9. There are 11 stocks representing 23 percent of the market, with PEs from 15 to 40, averaging 20, that is well above the market’s average. The top half of the market has an average PE of 16, possibly the lowest fair value for Junior Market stocks currently, and is projected to rise by 248 percent to May 2024.
The divergence between the average PE ratio of the Main and Junior Markets and the overall market valuation are important indicators of the likely gains for ICTOP10 stocks.
ICTOP10 focuses on likely yearly winners, accordingly, the list includes some of the best companies in the market, but not always. 
ICInsider.com ranks stocks based on projected earnings, allowing investors to focus on the most undervalued stocks and helping to remove emotions in selecting stocks for investments that often result in costly mistakes.
IC TOP10 stocks are likely to deliver the best returns up to the end of May 2024 and are ranked in order of potential gains, computed using projected earnings for the current fiscal year. Expected values will change as stock prices fluctuate, resulting in weekly movements in and out of the lists. Revisions to earnings are ongoing, based on receipt of new information.
Persons who compiled this report may have an interest in securities commented on in this report.
JSE USD Market slips on higher volume
Trading on the Jamaica Stock Exchange US dollar market ended on Friday with a 206 percent jump in the volume of stocks changing hands, valued 41 percent less than on Thursday, with nine securities traded, which was similar to trading on Thursday and closed with the price of one rising, three declining and five ending unchanged.
A total of 745,414 shares were traded for US$22,909 compared with 243,793 stock units at US$38,581 on Thursday.
Trading averaged 82,824 units at US$2,545 versus 27,088 shares at US$4,287 on Thursday, with a month to date average of 43,097 shares at US$3,288 compared with 23,234 units at US$3,659 on the previous day. July ended with an average of 95,306 units for US$2,965.
The US Denominated Equities Index fell 7.39 points to close at 240.62.
The PE Ratio, a measure used in computing appropriate stock values, averages 8.7. The PE ratio is calculated based on the last traded price divided by projected earnings done by ICInsider.com for companies with their financial year ending between November 2023 and August 2024.
Investor’s Choice bid-offer indicator shows no stock ended with a bid higher than the last selling price and none with a lower offer.
At the close, First Rock Real Estate USD share ended at 4 US cents with a transfer of 10,000 shares, Margaritaville increased 0.24 of a cent to 11.35 US cents after exchanging 42 stock units, Proven Investments remained at 14.5 US cents with investors swapping 2,298 units. 
Sterling Investments fell 0.1 of a cent to 1.6 US cents, with 10,008 stock units changing hands, Sygnus Credit Investments ended at 9 US cents after 28,006 shares were exchanged, Sygnus Real Estate Finance USD share ended at 10 US cents after investors traded 29 stocks and Transjamaican Highway declined 0.2 of a cent to 1.61 US cents with 694,286 units clearing the market.
In the preference segment, JMMB Group 6% ended at US$1.05 after a transfer of 45 stocks and Productive Business Solutions 9.25% preference share dropped 30 cents to close at US$11.70 in an exchange of 700 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Decline for JSE USD Market
Trading on the Jamaica Stock Exchange US dollar market ended on Thursday, with the volume of stocks changing hands rising 40 percent, valued 41 percent more than on Wednesday, resulting in nine securities traded, the same as on Wednesday with three rising, three declining and three ending unchanged.
A total of 243,793 shares were traded for US$38,581 compared to 174,417 units at US$27,278 on Wednesday.
Trading averaged 27,088 units at US$4,287 compared to 19,380 shares at US$3,031 on Wednesday, with a month to date average of 23,234 shares at US$3,659 compared to July with an average of 95,306 units for US$2,965.
The US Denominated Equities Index fell 5.28 points to end at 248.01.
The PE Ratio, a measure used in computing appropriate stock values, averages 8.9. The PE ratio is computed based on the last traded price divided by projected earnings done by ICInsider.com for companies with their financial year ending between November 2023 and August 2024.
Investor’s Choice bid-offer indicator shows one stock ended with a bid higher than the last selling price and none with a lower offer.
At the close, First Rock Real Estate USD share remained at 4 US cents, with 91,243 shares crossing the exchange, Margaritaville increased 2.09 cents and ended at 11.11 US cents, with 5,673 stock units passing through the market, Proven Investments shed 0.3 of a cent to close at 14.5 US cents in trading 12,070 units.
Sterling Investments dipped 0.1 of a cent to 1.7 US cents with 21,206 stocks crossing the market, Sygnus Credit Investments lost 1.93 cents in closing at 9 US cents, with investors exchanging 25,868 stock units, Sygnus Real Estate Finance USD share ended at 10 US cents in trading four stock units and Transjamaican Highway popped 0.14 of a cent in closing at 1.81 US cents after a transfer of 84,684 stocks.
In the preference segment, JMMB Group 5.75% rose 10 cents and ended at US$2 with an exchange of 750 units and Productive Business Solutions 9.25% preference share remained at US$12 after an exchange of 2,295 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.